My one MN house still needs a new shingle roof every 10-20 years, if the hail, snow, or ice dams,  doesn’t wreck it first.

If it doesn't work, I will face wrecked credit and a foreclosure action to get my property back.

The last thing you want is a tenant with a wrecked apartment that is now a legal crusader for all of Portland's housing woes.Best of luck and let us know how it turns out!

If it's FULL of trash and the car is wrecked to h*** they lowered there chance of getting accepted.

Even if you somehow manage to get decent cashflow from a property in such an area in the short run, if the people are constantly wrecking the property, if the cops are getting called regularly, if rent is late, if the tenants are "sub-leasing" their apartment to 12 people and the house ends up burning down from 134534523452345 things getting plugged into one outlet (all of which happens regularly in these areas), then you're going to have a bad time. 

It's just that we marvel at the continued stupidity....it gets to be like watching a train wreck after a while......

You could buy an absolute wreck with an ARV of $100K for $40K (40% of ARV), but you might have to put $40K into it in order to sell it.

Having owned and sold many different types of businesses over the years, I've always had people there to discourage, complain, deflate and just want to wreck your every day pursuit of trying to rise above.

Some tenants, however, couldn't care less and live like slobs.4) If we have a showing of an occupied property and it's a train wreck, we will pull the listing and advise our client we have to wait until it's vacant, clean and we know we can make a showing count.  5) Our standard "listed availability date" is 5-7 days from the day the lease expires. 

Excited but nerve wrecking at the same time.